• No pressure from G20 on finances
  • Would have liked to have had a Spanish candidate for ECB opening (I’ve got someone on mind…)

My alternate ECB candidate to replace Mersch:

She’s got the right plumbing!

Time to reiterate my long-standing prediction on how when Spain will request aid: When their backs are against the wall and there are no alternatives, making the program less effective than if it were not launched under duress.